Moody's Investors Service

The Republic of Cyprus is on Tuesday proceeding to the issue of two new bonds, a seven-year paper and a 30-year one, both euro medium-term notes (EMTN), the island's Finance Ministry announced on Monday in a message to investors.

This week - most probably on Wednesday - Piraeus Bank will open the book for the issue of its Tier II bond amounting to 500 million euros.

Citigroup anticipates multiple credit rating upgrades for Greece this year by the four main agencies (Moody's, Standard & Poor's, Fitch and DBRS Morningstar), estimating that the country will make four bond market forays to draw a total of 10 billion euros in 2020.

Japanese rating agency "Rating and Investment Information" (R&I) on Monday delivered a considerable vote of confidence in the prospects of the Greek economy, upgrading Greece by two notches to BB with a stable outlook. This has brought Greece within two notches from investment grade.

International credit ratings agency Moody's on Nov. 14 upgraded Turkey's economic growth forecast owing to the country's growth-friendly fiscal policy.

Moody's has downgraded India's credit rating prospect because of increasing risks of a long-term slowdown in the economy and rising debt, DPA reported.

The Indian government said that it has undertaken a number of reforms in the financial sector and in other areas to strengthen the economy while keeping its fundamentals stable.

Moody's downgraded the UK credit rating from "stable" to "negative" on Friday, Reuters reported.

The reason for the decision is that Brexit has triggered an "erosion in institutional strength" that threatens the UK's financial credibility.

The Agency confirms the UK's assessment of AA2.

International rating agency Moody's on Thursday described Greece's planned early repayment of part of the loans issued by the International Monetary Fund as a "credit positive." Amounting to 2.7 billion euros, the payment was approved on Monday by the European Stability Mechanism (ESM).

The collapse of British tour operator Thomas Cook is "credit negative" for Greek and Cypriot banks because it reduces the cash flow of businesses in the tourism sectors of these countries, ratings agency Moody's said in a report on Thursday.

Moody's Investors Service raised the outlook for Bulgaria's credit rating to positive from stable and affirmed the country's long-term foreign and local currency Baa2 rating. This was announced by the finance ministry.